ChevronTexaco Corporation (CVX: chart) announced before market open Friday a 33% increase in its quarterly profits, boosted by strong results in its refining and marketing unit. The U.S. second-largest oil company reported net earnings of $2.56 billion, or $2.40 a share, for the first quarter of fiscal 2004, compared with net earnings of $1.92 billion, or $1.81 a share, in the prior-year equivalent. Excluding items, the company turned in operating earnings of $2.53 billion, or $2.37 a share, for the quarter ended March 31. Analysts were looking for a profit of $2.02 per share, on average. For the same quarter in fiscal 2003, operating income was $2.08 billion, or $1.96 per share. San Ramon, California-based ChevronTexaco said quarterly revenue climbed 9% to $33.6 billion, from $30.8 billion last year, driven by higher energy and product prices. Earnings from the company’s oil refining and marketing activities more than doubled in the quarter to $640 million, aided by strong demand. ChevronTexaco said chemicals earnings soared to $74 million from $3 million, a year ago.

Company shares rose 1.27% to $91.50 at market close Friday.

CIGNA Corporation (CI: chart) posted before the bell Friday 2004 first-quarter net income of $78 million, or 55 cents per share, down from $236 million, or $1.68 per share, a year earlier. The Philadelphia, Pennsylvania-based health insurer said the decline in profit was due to an accounting change in relation to the sale of its Retirement segment. Excluding items, earnings from continuing operations came in at $263 million, or $1.86 per share, up from $205 million, or $1.46 per share, in the year-earlier period. Results beat the mean analysts’ estimate for a profit $1.82 per share. The company recorded earnings of $185 million in its health-care unit, a 53% jump from last year. For the quarter ended March 31, revenue eased to $4.7 billion, compared with $4.9 billion in fiscal 2003, hurt by a decrease in medical membership.

Looking ahead, CIGNA said it expects second-quarter earnings before items of $155 million to $185 million.

The stock slipped 0.48% on Friday to $64.51. CIGNA shares gained 6 cents to $64.57 in after-market trade.

Anadarko Petroleum Corporation (APC: chart) of Houston, Texas, said Friday that its quarterly earnings slipped 6% from a year ago, when results were helped by an accounting gain. The oil and gas exploration and production company announced first-quarter net income of $392 million, or $1.55 a share, in contrast to net income of $418 million, or $1.63 a share, in the 2003 equivalent. Earnings before items rose 16% to $432 million, or $1.70 a share, in the first quarter, from $371 million or $1.45 a share, a year ago, aided by rising oil and natural gas prices. Quarterly revenue improved 16% to $1.46 billion.

Anadarko shares closed Friday up 68 cents, or 1.29%, at $53.58.

The Procter & Gamble Company (PG: chart) reported Friday a third-quarter profit of $1.53 billion, or $1.09 a share, a 20% improvement from a year-ago profit of $1.27 billion, or 91 cents a share. The Cincinnati, Ohio-based consumer products company topped by a penny the consensus estimate of analysts. The company attributed the results to strong sales, which surged 22% to $13 billion for the quarter, from $10.7 billion last year.

The stock shed 22 cents to $105.75 at market close Friday.

KeySpan Corporation (KSE: chart) of Brooklyn, New York, posted Friday higher quarterly earnings, citing gains from gas distribution and energy production and lower expenses. The distributor of natural gas rolled out net income of $246.2 million, or $1.53 a share, for its first quarter, up from $241.8 million, or $1.53 a share, in the comparable period of 2003. First-quarter revenue was up 3% to $2.60 billion.

KeySpan shares rose 1.75% to close Friday at $36.15.

Winn-Dixie Stores, Inc. (WIN: chart) announced Friday earnings of $600,000, or nil per share, for the third quarter of fiscal 2004, in contrast to earnings of $50.6 million, or 36 cents per share, in the 2003 corresponding period. The Jacksonville, Florida-based supermarket chain blamed the profit drop on fierce competition from Wal-Mart and other food retailers, and higher expenses. Third-quarter sales slid to $2.67 billion from $2.82 billion, last year.

The stock gained 15 cents on Friday to $7.62.

Archer Daniels Midland Company (ADM: chart) of Decatur, Illinois, said Friday that its third-quarter profits surged 94% to $226.8 million, or 35 cents per share, from $116.8 million, or 18 cents per share, generated in the same quarter of 2003. Results of the agricultural company outpaced the average forecast of analysts for a profit of 27 cents per share. The company cited strength in its oilseed and corn processing and agricultural services operations as main factors for the improvement.

ADM shares were up 3.11% to $17.56 at market close Friday.

Allergan, Inc. (AGN: chart) reported Friday that its quarterly income rose from a year ago, boosted by strong demand for its eye-care treatments. The Irvine, California-based healthcare company turned in a profit of $80.8 million, or 61 cents per share, for its first quarter, against a prior-year profit of $70.2 million, or 53 cents per share. Sales in the quarter advanced to $472.4 million from $391.2 million, last year, helped also by surge in sales of the company’s popular wrinkle-smoother Botox.

The stock dipped 3.61% to close Friday at $88.05.

The Washington Post Company (WPO: chart) announced Friday that its first-quarter net income dropped to $59.4 million, or $6.15 a share, from net income of $73.1 million, or $7.59 a share, a year earlier, when results were boosted by a gain on the sale of its stake in the International Herald Tribune. The Washington, DC-based media company recorded revenue of $759 million in the quarter, a 19% rise from $640.4 million in 2003, driven by strong performance at Kaplan, the company’s educational unit.

Company shares added $6.50 to $920.00 at market close Friday.

American Axle & Manufacturing Holdings, Inc. (AXL: chart) of Detroit, Michigan, posted Friday lower quarterly profits, dragged by a debt-refinancing charge and weaker sales to General Motors. The supplier of axles, driveshafts and chassis said it had first-quarter net income of $36.5 million, or 66 cents a share, down from $54.0 million, or $1.02 a share, in the first quarter of 2003. Excluding items, earnings came to 94 cents a share, 2 cents a share above Wall Street’s mean estimate.